The financing package, which was arranged by Kellogg Gaines, Aaron Niedermayer and Douglas Baillie of JLL, consists of a senior construction loan from United Overseas Bank and mezzanine financing from Canyon Partners Real Estate.
Commercial brokers that participated in the REBNY survey were more optimistic than their counterparts in the residential sector. The Commercial Broker Confidence Index was 5.84 in the second quarter of 2017, an increase of 0.56 from the previous quarter.
The property, which is to be rebranded as 60 Charlton St., will when completed, involve the complete gut renovation of the existing six-story, 60,000-square-foot building and the addition of five new steel and glass floors on top of the existing structure.
New York City-based Lendlease's first project in the City of Boston—Slip 65—sold all 80 of its luxury condo units in just 50 days and more than a year from their delivery.
The 8,753-square-foot retail space at 882 Fulton St. was acquired by 101 Holdings, according to brokerage firm RKF. The deal calculated out to approximately $856.85-a-square-foot, a new record per-square-foot retail sale in Brooklyn, RKF officials report.
Employment in New York City's tech sector grew by 57% or 46,900 jobs during 2010-2016, while tech employment in the rest of the New York State increased by just 7% or by 10,200 jobs.
New York City-based developer Hudson Companies has launched construction on the project at 315 Meserole St. that when completed will feature 100,000 square feet of office and retail space, including a rooftop bar with an open terrace, as well as restaurant and event space that will hold nearly 400 people.